Summary of Non-Employee Director Compensation for Inergy Board Members
This document outlines the compensation for non-employee directors of Inergy. Directors receive an annual cash retainer of $25,000, with additional fees for serving as committee chairs and attending special meetings. Each year, they are also granted restricted units valued at $25,000, with the board having discretion over the form and terms of these equity awards, subject to the company's Long Term Incentive Plan. The agreement specifies the structure and amounts of compensation but does not set a fixed term.
Exhibit 10.1
Summary of Non-Employee Director Compensation
Cash Compensation
| Annual Retainer: | $ | 25,000 | |
| Annual Committee Fees: | |||
| Audit Committee Chair | $ | 5,000 | |
| Compensation Committee Chair | $ | 1,000 | |
| Meeting Fees: | |||
| Special Board Meetings | $ | 1,000 | |
| Committee Meetings | $ | 1,000 | |
Equity Compensation
Each year, non-employee directors will receive an award of restricted units equal to $25,000 in value. Subject to limits in the Inergy Long Term Incentive Plan, the board has the discretion to determine the form and terms of such awards to non-employee directors.
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